Perpetua Resources (NASDAQ:PPTA) Shares Gap Up Following Analyst Upgrade

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) gapped up before the market opened on Friday after HC Wainwright raised their price target on the stock from $13.25 to $22.00. The stock had previously closed at $9.10, but opened at $9.43. HC Wainwright currently has a buy rating on the stock. Perpetua Resources shares last traded at $9.77, with a volume of 132,325 shares changing hands.

PPTA has been the subject of a number of other reports. National Bank Financial began coverage on shares of Perpetua Resources in a research report on Friday, September 6th. They issued an “outperform” rating for the company. Roth Mkm boosted their price target on shares of Perpetua Resources from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Insider Activity

In other Perpetua Resources news, insider Alan Douglas Haslam sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $10.07, for a total transaction of $402,800.00. Following the sale, the insider now owns 65,571 shares in the company, valued at $660,299.97. This trade represents a 37.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PPTA. Continuum Advisory LLC increased its stake in shares of Perpetua Resources by 500.0% in the third quarter. Continuum Advisory LLC now owns 4,800 shares of the company’s stock worth $44,000 after buying an additional 4,000 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Perpetua Resources in the first quarter valued at about $51,000. Flaharty Asset Management LLC bought a new position in shares of Perpetua Resources during the second quarter valued at about $70,000. Intech Investment Management LLC purchased a new stake in shares of Perpetua Resources during the third quarter worth about $98,000. Finally, Quantbot Technologies LP bought a new stake in shares of Perpetua Resources in the third quarter worth about $123,000. 70.07% of the stock is owned by hedge funds and other institutional investors.

Perpetua Resources Trading Up 16.5 %

The business has a fifty day moving average of $9.37 and a 200-day moving average of $7.49. The company has a market cap of $705.63 million, a PE ratio of -47.95 and a beta of 0.27.

About Perpetua Resources

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.